Profit, Unit Sales Up For Palm - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Profit, Unit Sales Up For Palm

Palmtop computer maker Palm Inc. reported revenue of $522.2 million for its second quarter, ended Dec. 1, up 102% from the $258.6 million generated a year ago. Profit for the quarter was $20.3 million, or 4 cents a share, compared with $12.9 million, or 2 cents a share, a year ago.

Palm shipped about 2.1 million handhelds in the quarter, 45% more than the 1.5 million units shipped in the first quarter. This brings the total devices shipped by Palm to nearly 10.9 million.

"The global economy continues its shift to handheld computing," CEO Carl Yankowski says. Sizing up the holiday buying season for Palm, Yankowski says, "Consumers are saying they are buying smaller-ticket items, but the good news is they are still buying." Craig Mathias, an analyst with Farpoint Group, says Palm is reaping the benefits of its large installed base. Most people know next to nothing about personal digital assistants, Mathias says, so they ask palmtop-packing friends what they use before buying.

Despite the strong earnings news, Palm shares dipped in after-hours trading, which didn?t surprise Mathias. "Given the way the market is today, they could still [meet market expectations] and still fall, based on the philosophy that you sell on good news and buy on bad."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
What Comes Next for the COVID-19 Computing Consortium
Joao-Pierre S. Ruth, Senior Writer,  11/24/2020
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Register for InformationWeek Newsletters
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll